India and the United States have intensified virtual negotiations following the finalization of broad Terms of Reference (ToRs) for a landmark Bilateral Trade Agreement (BTA) on March 29 in New Delhi. The agreement aims to reduce tariff and non-tariff barriers, boost market access, and deepen supply chain integration paving the way for a dramatic increase in bilateral trade from $200 billion to $500 billion by 2030.

Officials from both nations are working on a fast-track mechanism to finalize the first tranche of the BTA before fall 2025, starting with an early harvest deal. This initial phase will tackle easier issues like tariffs, while more complex subjects like intellectual property rights and government procurement will follow.

The talks, led by senior trade representatives from both sides, reflect a shared ambition to reshape global trade dynamics through strategic economic alignment.